HONG KONG, Oct 20 (Reuters) - Hong Kong’s financial secretary John Tsang has rebuffed rumours that the pro-democracy Occupy Central movement, which has brought the city’s financial district to a standstill in recent weeks, might derail a landmark trading link between Hong Kong and China expected to launch on October 27.
“I think that the Occupy movement and the Shanghai-Hong Kong Stock Connect have no connection,” said Tsang, speaking during a press briefing on Monday in Hong Kong.
“We have put in a lot of work and effort into the planning of the Shanghai-Hong Kong Stock Connect since last year, and many companies have also made many preparations on this matter. So now we are just waiting for the project to launch.”
Tsang gave no indication on an expected launch date, saying, “We are just waiting for the decision to be made.”
The Hong Kong and Shanghai markets have been eagerly awaiting a formal announcement on the Connect programme. The link-up will allow international investors to trade Shanghai ‘A’ shares via the Hong Kong stock exchange, while mainland investors will be able to trade Hong Kong ‘H’ shares via the Shanghai Stock Exchange, subject to quotas both ways. (Reporting by Michelle Price; Editing by Kenneth Maxwell)